Last month, an appliance store sold 82 refrigerators at $779 each. This month, the floor manager has estimated that the store can sell 90 refrigerators if the price is lowered to $739 per unit. Calculate the price elasticity of demand for refrigerators. [ 4.2.1 Computing the Price Elasticity of Demand A) 1.77 B) 0.57 C) 0.20 D) 1.90
Last month, an appliance store sold 82 refrigerators at $779 each. This month, the floor manager has estimated that the store can sell 90 refrigerators if the price is lowered to $739 per unit. Calculate the price elasticity of demand for refrigerators. [ 4.2.1 Computing the Price Elasticity of Demand A) 1.77 B) 0.57 C) 0.20 D) 1.90
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 17SQ
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